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Tigo Energy Inc. Financials

TYGO
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Tigo Energy Inc. (TYGO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI TYGO FY2025

Margin recovery and minimal reinvestment needs turned a sales rebound into positive cash generation and active balance-sheet repair.

In FY2025, free cash flow turned positive at $9.7M while net income was still -$1.9M, which means the business started converting its recovery into cash before reported earnings fully caught up. The hidden driver was a gross-margin reset from -7.7% in FY2024 to 42.8%, so better unit economics rather than heavy spending cuts did most of the repair work.

This now looks light on maintenance capital: capex was only $642K against operating cash flow of $10.3M, letting almost all operating cash remain free for other uses. That matters because a business with this cost shape does not need large annual reinvestment just to stand still; once margins normalize, cash can improve fast.

The income statement still showed a financing hangover: interest expense of $11.0M exceeded the operating loss of -$4.5M, so the residual net loss said as much about capital structure as about operations. At the same time, liabilities fell to $50.4M from $64.5M, indicating improved cash generation was being used to simplify the balance sheet rather than accumulate cash.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 23 / 100
Financial Profile 23/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Tigo Energy Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
0

Tigo Energy Inc. has an operating margin of -4.3%, meaning the company retains $-4 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -96.3% the prior year.

Growth
7

Tigo Energy Inc.'s revenue surged 91.7% year-over-year to $103.5M, reflecting rapid business expansion. This strong growth earns a score of 7/100.

Leverage
100

Tigo Energy Inc. carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
25

Tigo Energy Inc.'s current ratio of 1.50 is below the typical benchmark, resulting in a score of 25/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow
4

Tigo Energy Inc.'s free cash flow margin of 9.3% results in a low score of 4/100. Capital expenditures of $642K absorb a large share of operating cash flow.

Returns
0

Tigo Energy Inc. generates a -6.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -748.3% the prior year.

Piotroski F-Score Neutral
6/9

Tigo Energy Inc. passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed
-5.48x

For every $1 of reported earnings, Tigo Energy Inc. generates $-5.48 in operating cash flow ($10.3M OCF vs -$1.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
-0.4x

Tigo Energy Inc. earns $-0.4 in operating income for every $1 of interest expense (-$4.5M vs $11.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$103.5M
YoY+91.7%

Tigo Energy Inc. generated $103.5M in revenue in fiscal year 2025. This represents an increase of 91.7% from the prior year.

EBITDA
-$3.2M
YoY+93.6%

Tigo Energy Inc.'s EBITDA was -$3.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 93.6% from the prior year.

Net Income
-$1.9M
YoY+97.0%

Tigo Energy Inc. reported -$1.9M in net income in fiscal year 2025. This represents an increase of 97.0% from the prior year.

EPS (Diluted)
$-0.03
YoY+97.1%

Tigo Energy Inc. earned $-0.03 per diluted share (EPS) in fiscal year 2025. This represents an increase of 97.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$9.7M
YoY+170.8%

Tigo Energy Inc. generated $9.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 170.8% from the prior year.

Cash & Debt
$7.7M
YoY-34.7%
5Y CAGR+220.2%

Tigo Energy Inc. held $7.7M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
70M
YoY+15.8%

Tigo Energy Inc. had 70M shares outstanding in fiscal year 2025. This represents an increase of 15.8% from the prior year.

Margins & Returns

Gross Margin
42.8%
YoY+50.5pp

Tigo Energy Inc.'s gross margin was 42.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 50.5 percentage points from the prior year.

Operating Margin
-4.3%
YoY+91.9pp

Tigo Energy Inc.'s operating margin was -4.3% in fiscal year 2025, reflecting core business profitability. This is up 91.9 percentage points from the prior year.

Net Margin
-1.8%
YoY+114.3pp

Tigo Energy Inc.'s net profit margin was -1.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 114.3 percentage points from the prior year.

Return on Equity
-6.8%
YoY+741.5pp
5Y CAGR+2.2pp

Tigo Energy Inc.'s ROE was -6.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 741.5 percentage points from the prior year.

Capital Allocation

R&D Spending
$9.2M
YoY-6.2%

Tigo Energy Inc. invested $9.2M in research and development in fiscal year 2025. This represents a decrease of 6.2% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$642K
YoY-50.1%

Tigo Energy Inc. invested $642K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 50.1% from the prior year.

TYGO Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $25.2M-16.1% $30.0M-1.9% $30.6M+27.3% $24.1M+27.7% $18.8M+9.1% $17.3M+21.3% $14.2M+12.1% $12.7M
Cost of Revenue $14.4M-13.6% $16.7M-5.0% $17.6M+32.0% $13.3M+13.9% $11.7M-60.9% $29.8M+139.4% $12.5M+41.1% $8.8M
Gross Profit $10.8M-19.2% $13.4M+2.2% $13.1M+21.4% $10.8M+50.0% $7.2M+157.1% -$12.6M-808.2% $1.8M-54.1% $3.9M
R&D Expenses $2.6M+14.4% $2.3M-7.6% $2.5M+10.3% $2.3M+4.8% $2.2M-3.9% $2.3M-7.4% $2.4M-10.0% $2.7M
SG&A Expenses $6.1M-0.6% $6.1M+13.3% $5.4M-3.4% $5.6M+10.2% $5.1M-5.9% $5.4M+0.2% $5.4M-2.4% $5.5M
Operating Income -$2.4M-823.7% $333K-48.7% $649K+143.2% -$1.5M+62.2% -$4.0M+83.5% -$24.1M-131.2% -$10.4M-24.0% -$8.4M
Interest Expense $1K-100.0% $2.4M-15.8% $2.9M-0.2% $2.9M-0.1% $2.9M0.0% $2.9M+0.3% $2.9M0.0% $2.9M
Income Tax -$164K-102.5% -$81K-135.2% $230K+45.6% $158K-46.6% $296K+240.2% $87K $0-100.0% $16K
Net Income -$1.8M-114.9% $11.7M+641.0% -$2.2M+51.1% -$4.4M+36.7% -$7.0M+73.9% -$26.8M-104.3% -$13.1M-15.9% -$11.3M
EPS (Diluted) $-0.02 N/A $-0.03+57.1% $-0.07+36.4% $-0.11 N/A $-0.22-15.8% $-0.19

TYGO Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $74.9M-4.1% $78.0M-27.6% $107.8M+33.7% $80.6M+14.2% $70.6M-3.1% $72.9M-26.0% $98.6M-4.6% $103.3M
Current Assets $55.1M-5.0% $58.0M-33.9% $87.8M+45.4% $60.4M+16.6% $51.8M-3.0% $53.4M-32.2% $78.7M-5.3% $83.1M
Cash & Equivalents $11.6M+50.9% $7.7M-68.7% $24.5M+139.6% $10.2M+20.1% $8.5M-27.6% $11.7M+24.2% $9.5M-36.7% $14.9M
Inventory $24.8M-20.7% $31.3M+9.6% $28.5M+50.8% $18.9M+0.1% $18.9M-14.1% $22.0M-53.0% $46.8M-8.8% $51.3M
Accounts Receivable $14.2M+2.0% $13.9M-12.0% $15.8M+51.8% $10.4M+0.2% $10.4M+30.1% $8.0M-9.7% $8.8M+27.6% $6.9M
Goodwill $12.2M0.0% $12.2M0.0% $12.2M0.0% $12.2M0.0% $12.2M0.0% $12.2M0.0% $12.2M0.0% $12.2M
Total Liabilities $34.0M-32.5% $50.4M-47.4% $95.8M+21.3% $79.0M+18.1% $66.9M+3.6% $64.5M-0.9% $65.1M+11.1% $58.6M
Current Liabilities $22.4M-42.3% $38.8M-54.3% $84.9M+24.8% $68.0M+16.6% $58.3M+240.9% $17.1M-14.0% $19.9M+28.6% $15.5M
Long-Term Debt $0 $0-100.0% $50.0M0.0% $50.0M $0-100.0% $40.5M+5.8% $38.3M+6.2% $36.0M
Total Equity $40.8M+47.9% $27.6M+129.1% $12.1M+612.5% $1.7M-55.2% $3.8M-55.0% $8.4M-74.9% $33.5M-25.2% $44.7M
Retained Earnings -$142.2M-1.2% -$140.4M+7.7% -$152.1M-1.4% -$150.0M-3.0% -$145.5M-5.1% -$138.5M-24.0% -$111.7M-13.3% -$98.6M

TYGO Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$9.3M-669.4% $1.6M+13.5% $1.4M-81.6% $7.8M+1566.4% -$530K-150.3% $1.1M+296.8% -$535K+66.7% -$1.6M
Capital Expenditures $209K-53.0% $445K+1067.4% -$46K N/A N/A $529K+56.0% $339K+564.7% $51K
Free Cash Flow -$9.5M-901.8% $1.2M-14.9% $1.4M N/A N/A $524K+160.0% -$874K+47.3% -$1.7M
Investing Cash Flow -$209K-100.7% $30.1M+1260.3% $2.2M+136.1% -$6.1M-73.0% -$3.5M-343.4% $1.5M+128.8% -$5.0M-165.4% $7.7M
Financing Cash Flow $13.4M+127.6% -$48.5M-556.6% $10.6M+21130.0% $50K-93.9% $817K+473.1% -$219K-114.7% -$102K-1120.0% $10K
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

TYGO Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 42.8%-1.6pp 44.5%+1.8pp 42.7%-2.1pp 44.7%+6.7pp 38.1%+110.8pp -72.7%-85.2pp 12.5%-18.0pp 30.4%
Operating Margin -9.6%-10.7pp 1.1%-1.0pp 2.1%+8.4pp -6.3%+14.9pp -21.1%+118.3pp -139.5%-66.3pp -73.2%-7.0pp -66.2%
Net Margin -7.0%-46.0pp 39.0%+46.1pp -7.1%+11.3pp -18.4%+18.7pp -37.2%+118.0pp -155.2%-63.0pp -92.1%-3.0pp -89.1%
Return on Equity -4.3%-46.7pp 42.4%+60.4pp -18.0%+243.8pp -261.8%-76.4pp -185.5%+134.2pp -319.6%-280.5pp -39.2%-13.9pp -25.3%
Return on Assets -2.3%-17.4pp 15.0%+17.0pp -2.0%+3.5pp -5.5%+4.4pp -9.9%+26.8pp -36.8%-23.4pp -13.3%-2.3pp -11.0%
Current Ratio 2.46+1.0 1.50+0.5 1.03+0.1 0.890.0 0.89-2.2 3.12-0.8 3.96-1.4 5.37
Debt-to-Equity 0.000.0 0.00-4.1 4.15-25.4 29.55+29.6 0.00-4.8 4.83+3.7 1.14+0.3 0.81
FCF Margin -37.5%-41.5pp 3.9%-0.6pp 4.5% N/A N/A 3.0%+9.2pp -6.1%+6.9pp -13.1%

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Frequently Asked Questions

Tigo Energy Inc. (TYGO) reported $103.5M in total revenue for fiscal year 2025. This represents a 91.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Tigo Energy Inc. (TYGO) revenue grew by 91.7% year-over-year, from $54.0M to $103.5M in fiscal year 2025.

No, Tigo Energy Inc. (TYGO) reported a net income of -$1.9M in fiscal year 2025, with a net profit margin of -1.8%.

Tigo Energy Inc. (TYGO) reported diluted earnings per share of $-0.03 for fiscal year 2025. This represents a 97.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Tigo Energy Inc. (TYGO) had EBITDA of -$3.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Tigo Energy Inc. (TYGO) had $7.7M in cash and equivalents against $0 in long-term debt.

Tigo Energy Inc. (TYGO) had a gross margin of 42.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Tigo Energy Inc. (TYGO) had an operating margin of -4.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Tigo Energy Inc. (TYGO) had a net profit margin of -1.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Tigo Energy Inc. (TYGO) has a return on equity of -6.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Tigo Energy Inc. (TYGO) generated $9.7M in free cash flow during fiscal year 2025. This represents a 170.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Tigo Energy Inc. (TYGO) generated $10.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Tigo Energy Inc. (TYGO) had $78.0M in total assets as of fiscal year 2025, including both current and long-term assets.

Tigo Energy Inc. (TYGO) invested $642K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Tigo Energy Inc. (TYGO) invested $9.2M in research and development during fiscal year 2025.

Tigo Energy Inc. (TYGO) had 70M shares outstanding as of fiscal year 2025.

Tigo Energy Inc. (TYGO) had a current ratio of 1.50 as of fiscal year 2025, which is considered adequate.

Tigo Energy Inc. (TYGO) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Tigo Energy Inc. (TYGO) had a return on assets of -2.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Tigo Energy Inc. (TYGO) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Tigo Energy Inc. (TYGO) has an earnings quality ratio of -5.48x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Tigo Energy Inc. (TYGO) has an interest coverage ratio of -0.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Tigo Energy Inc. (TYGO) scores 23 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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